Backed by Apricus Generation, HK Power will acquire and develop large DG-scale projects

BROOKLYN, N.Y., May 5, 2026 /PRNewswire/ -- HK Power, a newly formed distributed energy developer, today announced its launch. Founded by industry veterans Josh Hotvet and Omar Khaleel, and backed by Apricus Generation, HK Power will focus on acquiring and developing large distribution-scale solar, solar-plus-storage, and standalone storage assets across the United States.

The company's strategy centers on acquiring early-stage projects with strong fundamentals and carrying them through the full development process to ready-to-build — underwriting every asset against two questions: what it takes to reach construction-ready, and what it takes to get financed. HK Power brings institutional discipline to a segment of the market where execution quality and counterparty trust are defining competitive advantages.

"Omar and I have spent our careers on different sides of this business — development, acquisitions, and capital markets. HK Power brings those capabilities together in one platform, built from the ground up to earn the trust of the communities, capital partners, and counterparties we work with," said Josh Hotvet, Co-founder and CEO, HK Power.

"Distributed solar and storage assets deliver real value — to the grid, to the communities that host them, and to the capital partners who back them. We're focused on developing projects that perform across every one of those dimensions, not just at closing," said Omar Khaleel, Co-founder and COO, HK Power

"Josh and Omar represent exactly the kind of founders Apricus was built to back — experienced, disciplined, and deeply aligned with the long-term value creation thesis we share. HK Power adds meaningful capabilities to the Apricus platform at precisely the right moment in the distributed energy market," said Gautam Chandra, CEO, Apricus Generation

HK Power launches as a platform company within Apricus Generation, a strategic holding platform for independently managed distributed energy businesses. Apricus provides capital, transaction structuring, and strategic execution support while preserving each company's operational autonomy and entrepreneurial identity.  HK Power was advised by Akin Gump Strauss Hauer & Feld LLP and Apricus Generation was advised by Foley & Lardner LLP on this transaction.

About HK Power

HK Power is a distributed energy developer focused on acquiring and developing large DG-scale solar, solar-plus-storage, and standalone storage assets across the Eastern United States. The company was founded to bring institutional-quality discipline to the distributed energy development process — from site control through ready-to-build. HK Power is an Apricus Generation company.

hkpower.co  |  [email protected]

About Apricus Generation

Apricus Generation operates as a strategic platform for distributed energy development, composed of aligned, independently managed companies that share in long-term value creation. Each company retains its operational autonomy and entrepreneurial identity while benefiting from Apricus's capital, transaction structuring, and strategic execution expertise. Our companies build. We help them scale.

apricus.energy

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SOURCE HK Power